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News Now

Washington
Foreclosure risk field hearing announced
WASHINGTON (11/29/07)—The House Financial Services Committee has announced its housing and community opportunity subcommittee will conduct a field Friday on mortgage issues. The hearing will examine foreclosure prevention and intervention, as well as the importance of loss mitigation strategies to help homeowners hang onto homes. Witnesses were not yet announced. The hearing will be convened at the California Science Center in Los Angeles. It will be lead by the subcommittee chair, Rep. Maxine Waters, a Democrat from California. Another hearing, tentatively scheduled by the full committee for Dec. 6 to study ideas for supplementing the mortgage reform bill passed 291-127 by the House before Thanksgiving recess, has been postponed, according to American Banker (Nov. 28). No new date has been set.
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